L-R: Feng Qingfeng and Jean-Marc Gales. Zhejiang Geely Holding Group (Geely Holding), China’s leading privately-owned automotive group, has announced that Feng Qingfeng, vice-president and chief technical officer of Geely Auto Group, has been appointed to succeed Jean-Marc Gales as chief executive officer of Group Lotus effective immediately. Jean-Marc Gales will head up the Essex-based classic car dealer… Continue reading Feng Qingfeng to succeed Jean-Marc Gales as Lotus CEO
Tag: M and A
Geely paints the future of mobility
Car designers, artists and journalists met in Paris a few days ago at an event organised by Geely, to share their visions of future mobility. On a rooftop terrace, a series of works of art were presented, all created to explore the theme of what mobility will look like in the year 2100. Geely’s Peter Horbury, Brandon… Continue reading Geely paints the future of mobility
Volkswagen plans three new plants in China
The VW Group is expanding its capacity in China. In three new factories, especially large SUVs are to be built. For the future, the production of electric cars is planned. Volkswagen dealership in China Saturday, 02.06.2018 14:29 clock The joint venture FAW-Volkswagen intends to open three new plants in China. With the production facilities in… Continue reading Volkswagen plans three new plants in China
Exclusive: Lotus boss Jean-Marc Gales departs car maker
Jean-Marc Gales has abruptly left his position as CEO of Group Lotus plc, the Norfolk-based sports car maker and technology consultancy acquired last year by China’s Geely group, which also owns Volvo, Lynk&Co, Proton and LEVC. Gales told Autocar that he was leaving for “personal reasons” and that it was “time to move on”. He departs his job today and described it as… Continue reading Exclusive: Lotus boss Jean-Marc Gales departs car maker
Ford begins production of new EcoSport in Russia
Ford Sollers, Ford’s joint venture in Russia, has started production of the new Ford EcoSport small SUV at its state-of-the-art manufacturing facility in Naberezhenye Chelny, in Russia’s Tatarstan region. Speaking at the production launch ceremony last week, Steven Armstrong, president, Ford of Europe, Middle East and Africa, said: “Ford has a long heritage and global… Continue reading Ford begins production of new EcoSport in Russia
Assurant completes $2.5 billion acquisition of The Warranty Group
The Warranty Group has been acquired by New York-based insurance specialist Assurant in a move which aims to “further cement” its global lifestyle growth strategy.
Geely Auto Has Found A New Gear
I don’t write about it as often as I’d like to, but Geely Auto (OTCPK:GELYY) (0175.HK) has long been one of my favorite companies and stocks. Although there is a long list of potential reasons to avoid the name, I’ve been bullish on the company’s prospects to drive significant unit volume growth (as well as… Continue reading Geely Auto Has Found A New Gear
Lyft is reportedly close to buying the company behind Ford GoBike and Citi Bike
Lyft is getting close to acquiring Motivate, the company responsible for Ford GoBike in the San Francisco Bay Area and Citi Bike in the New York City area, The Information reports. The deal will reportedly be worth at least $250 million. Lyft declined to comment and Motivate wasn’t available for comment at the time of… Continue reading Lyft is reportedly close to buying the company behind Ford GoBike and Citi Bike
China’s automaker Protean Electric closes $40m Series E round
June 4, 2018 Chinese automaker Protean Electric has closed a $40 million equity investment in its series E funding round led by Shenzhen-listed Weifu High-Technology Group and existing investor Oak Investment Partners. According to a press release, the funding will be utilised to support Protean’s ongoing business activities and to help establish a global licensing… Continue reading China’s automaker Protean Electric closes $40m Series E round
Volvo Cars’ global sales up by 13.3 per cent in May
Volvo Cars’ global sales up by 13.3 per cent in May Volvo Cars’ sales momentum continued in May with global sales up 13.3 per cent compared with the same month last year, as the premium carmaker grew in all its main markets. In the first five months of 2018, sales grew by 13.6… Continue reading Volvo Cars’ global sales up by 13.3 per cent in May